The Kennedy Tax Cut, enacted in 1964 after his death, was the first supply-side tax cut used in U.S. history. Its intent was to stimulate the economy by reducing tax rates in order to do what?
(a) Reduce supply
(b) Increase production, employment and disposable income
(c) Increase government spending
(d) Increase the money supply
(b)
You might also like to view...
In a certain economy, the components of aggregate spending are given by: C = 60 + 0.6(Y - T) - 1,000rI = 200 - 1,000rG = 200NX = 50T = 100Given the information about the economy above, what is the short-run equilibrium output if the real interest rate is 4 percent?
A. 925 B. 450 C. 1,125 D. 370
The overall productivity crisis of the 1970s can be attributed, in part, to insufficient investment in research and development
Indicate whether the statement is true or false
The above figure shows the market for steel ingots. If the market is competitive, then the deadweight loss to society is
A) a. B) b. C) c. D) zero.
The quantity equation is always true because it:
A. has been empirically tested. B. is a law of economics. C. is the definition of velocity rewritten. D. has been historically verified.